Developed market

In investing, a developed market is a country that is most developed in terms of its economy and capital markets. The country must be high income, but this also includes openness to foreign ownership, ease of capital movement, and efficiency of market institutions. This term is contrasted with developing market (Emerging markets and frontier markets are types of developing markets).

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FTSE Group, a provider of economic and financial data, assigns the market status of countries as Developed, Advanced Emerging, Secondary Emerging or Frontier on the basis of their economic size, wealth, quality of markets, depth of markets, breadth of markets.
From 24 September 2018, FTSE Group classifies 25 countries as developed markets:[1][2]

According to MSCI Global investable Market Indexes Methodology - October 2017,[7]Cyprus as well as Iceland and Luxembourg, "are part of the developed market universe", but "given their modest size, these markets are not included in the MSCI World index".